DOGE Creator Criticizes Cryptocurrency Industry

Dogecoin creator Jackson Palmer said on Wednesday that he will never return to crypto as he considers it an unfair, hyper-capitalist technology designed to increase the wealth of its supporters through a combination of tax evasion.

Palmer believes that the cryptocurrency industry is now controlled by a “rich cartel” pursuing its own interests. Regarding Dogecoin, he said that the technology was created to limit consumer protection, for example, by accusing them of losing passwords.

“Cryptocurrency is like taking the worst parts of today’s capitalist system (e.g. corruption, fraud, inequality) and using software to technically restrict the use of interventions (e.g. audits, regulation, taxation) that serve as a defence or safety net for the average person.”

After that, Palmer added that the cryptocurrency does not correspond to his life belief system and turned off the ability to comment on his posts.

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